{"id":1853,"date":"2009-04-01T14:43:50","date_gmt":"2009-04-01T18:43:50","guid":{"rendered":"http:\/\/www.jasetaro.com\/blog\/?p=1853"},"modified":"2009-05-15T11:02:06","modified_gmt":"2009-05-15T15:02:06","slug":"holy-crap-128-trillion-spent-lent-or-committed","status":"publish","type":"post","link":"https:\/\/www.jasetaro.com\/blog\/2009\/04\/01\/holy-crap-128-trillion-spent-lent-or-committed\/","title":{"rendered":"Holy Crap: $12.8 Trillion Spent, Lent or Committed???"},"content":{"rendered":"

From Bloomberg News<\/a>:<\/p>\n

March 31 (Bloomberg) — The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.<\/p>\n

New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation\u2019s gross domestic product was $14.2 trillion in 2008.<\/p><\/blockquote>\n

I don’t know what’s more frightening, that our government and the Federal Reserve have spent, lent or committed $12.8 trillion or that they want to spend more?<\/p>\n","protected":false},"excerpt":{"rendered":"

From Bloomberg News: March 31 (Bloomberg) — The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s. New pledges from the Fed, the Treasury Department and the Federal Deposit […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[26,7],"tags":[166,57,343,570,168,569],"class_list":["post-1853","post","type-post","status-publish","format-standard","category-economy","category-politics","tag-bailout","tag-barack-obama","tag-federal-reserve","tag-gdp","tag-stimulus","tag-us-government","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-tT","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2196,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/05\/15\/barack-obama-us-long-term-debt-load-unsustainable\/","url_meta":{"origin":1853,"position":0},"title":"Barack Obama: U.S. Long-Term Debt Load ‘Unsustainable’","author":"Jeff","date":"May 15, 2009","format":false,"excerpt":"From Bloomberg News: May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending \u201cunsustainable,\u201d warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries. \u201cWe can\u2019t keep on just borrowing from China,\u201d Obama said at a town-hall meeting in Rio\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1897,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/04\/08\/is-more-spending-the-answer-to-our-economic-problems\/","url_meta":{"origin":1853,"position":1},"title":"Is More Spending the Answer to Our Economic Problems?","author":"Jeff","date":"April 8, 2009","format":false,"excerpt":"I mentioned last week that the Government and Federal Reserve had spent, lent or committed $12.8 trillion, here's video from stopspendingourfuture.org that helps put that in perspective: In short, we have spent more bailouts than we did on World War 2!","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2340,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/06\/12\/bloomberg-com-house-health-care-bill-to-include-600-billion-in-tax-increases\/","url_meta":{"origin":1853,"position":2},"title":"Bloomberg.com: House Health-Care Bill to Include $600 Billion in Tax Increases","author":"Jeff","date":"June 12, 2009","format":false,"excerpt":"Bloomberg.com is reporting that the health care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to Medicare and Medicaid: June 12 (Bloomberg) -- Health-care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2266,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/05\/29\/poll-question-is-the-us-economy-headed-for-a-recovery-or-a-dead-cat-bounce\/","url_meta":{"origin":1853,"position":3},"title":"Poll Question: Is the U.S. Economy Headed for a Recovery or a ‘Dead Cat Bounce’?","author":"Jeff","date":"May 29, 2009","format":false,"excerpt":"Ok folks, here's the 64 trillion dollar question for you... [poll id=\"14\"] I'm leaning toward dead cat bounce for various reasons... In short all the money the Federal Reserve and the Federal Government are pumping into the economy will have a positive effect and we will see GDP rebound in\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1525,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/02\/15\/federal-obligations-exceed-world-gdp\/","url_meta":{"origin":1853,"position":4},"title":"Federal Obligations Exceed World GDP???","author":"Jeff","date":"February 15, 2009","format":false,"excerpt":"I tend to be skeptical of articles like this one from World Net Daily: Federal obligations exceed world GDP Does $65.5 trillion terrify anyone yet? By Jerome R. Corsi, February 13, 2009, WorldNetDaily As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2343,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/06\/12\/big-govenerment-thousands-of-new-regulations-costing-1-17-trillion-in-2008\/","url_meta":{"origin":1853,"position":5},"title":"Big Govenerment: Thousands of New Regulations Costing $1.17 Trillion in 2008","author":"Jeff","date":"June 12, 2009","format":false,"excerpt":"From CNSNews.com: An annual report issued by the Competitive Enterprise Institute (CEI) shows that the U.S. government imposed $1.17 trillion in new regulatory costs in 2008. That almost equals the $1.2 trillion generated by individual income taxes, and amounts to $3,849 for every American citizen. According the 2009 edition of\u2026","rel":"","context":"In "Culture"","block_context":{"text":"Culture","link":"https:\/\/www.jasetaro.com\/blog\/category\/culture\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/1853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=1853"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/1853\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=1853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=1853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=1853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}